Incentives for Businesses and Development
The Urbana Economic Development Division administers several programs aimed at attracting new, and assisting existing businesses and commercial developments. These programs include economic incentives in the form of grants and redevelopment assistance, and are administered through our Tax Increment Finance Districts and Enterprise Zone and Philo Rd Business District.
Please contact the Economic Development Division at (217) 384-2444 if you have any questions. Staff will assist you in reviewing the incentive programs to determine what is the best fit for your business or project.
Programs offering assistance to Urbana businesses
Commercial Signage Grant Program ($3,000)
TIF Redevelopment Incentives (Up to $35,000 in select areas)
TIF Redevelopment Agreements (Negotiable)
Enterprise Zone Sales Tax Exemptions and Property Tax Abatements (Depending on project size)